GUMM - Eliminate the Common Cold Message Board

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Biotech / Medical : GUMM - Eliminate the Common Cold

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To: RockyBalboa who wrote (3983)	11/15/2001 2:15:22 AM
From: Mad2	Read Replies (1) of 5582

Thing is everyone associated with this company makes out but the "shareholders" If anyone who ownes this thing is lucky, mgmt will try and sell the zicam to a consumer products company...instead of ending up like QGLY. Under the terms of the non-binding Memorandum of Understanding, Gum Tech would pay $6.1 million in cash at closing and make four subsequent cash payments of $2.75 million each, spread out over the next two years. Subject to satisfying closing conditions, we believe the transaction will close in the fourth quarter of 2001. Mr. Johnson concluded, ``This transaction will position Gum Tech to control the destiny and better manage the financing of our Zicam operation. In addition, Gum Tech retains significant cash resources which will allow us to build the Zicam brand while continuing to explore other investment opportunities.'' Essentially all the 17 mil from sale of gum business goes to this Zensano (sucessor interest in Bio-delivery), wholely owned sub of Zengen a privatly held Calf firm, bla bla bla......essentially Davidson (these were the orignal Ziacam promoters) et al walk away with 17 mil bucks. mad2

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